Virtual reality market is expected to witness an exponential CAGR of
49.71% during the forecast period 2017 to 2023. The market is expected
to reach US$60.901 billion by the end of the year 2023, from a market
size of US$5.409 billion in 2017.

Increased use of virtual reality in the defence sector, growing use of
head-mounted displays (HMD) in the entertainment and gaming sector along
with declining prices of displays and hardware components are some of
the key factors propelling the market.

Other driving factors complementing the growth of the virtual reality
market is the higher interest of large technology companies in virtual
reality and easy availability of head-mounted displays leading to
improving adoption rate of these solutions. Other end user industries
apart from the traditional ones are also beginning to experiment with VR
solutions leading to increased demand for these solutions.

However, the major challenges faced by the virtual reality market is
display latency, energy consumption and health concerns.

Major industry players profiled as part of the report are Facebook Inc.,
Microsoft corporation, Google LLC, and Vuzix Corporation among others.

Report Scope

This research study examines the current market trends related to the
demand, supply, and sales, in addition to the recent developments. Major
drivers, restraints, and opportunities have been covered to provide an
exhaustive picture of the market.

The analysis presents in-depth information regarding the development,
trends, and industry policies and regulations implemented in each of the
geographical regions. Further, the overall regulatory framework of the
market has been exhaustively covered to offer stakeholders a better
understanding of the key factors affecting the overall market
environment.